Core DAO Unveils Yield Bearing Bitcoin ETP for BTC Investors
Core DAO, a decentralized permissionless network, has announced the launch of a new exchange-traded product. The company disclosed that the release of the “Yield Bearing Bitcoin Exchange-Traded Product” would emerge as a game-changing move for $BTC investors. On the other hand, the users would reportedly require entrusting their private keys to 3rd parties to earn yield conventionally.
Core DAO Offers Yield Bearing BTC ETP to Boost Earnings of the Bitcoin Investors
The risks linked to the respective method started emerging back in the year 2022. This resulted in a hard lesson costing huge amounts to many. However, the firm confidently endorses the current development as a suitable solution in this respect. As per the company, Core Chain now provides a secure method for yield generation with Bitcoin.
It added that the users would not require surrendering control over their private keys at all. This exclusive approach comes along with the finest features of Ethereum and Bitcoin via hybrid technology. Apart from that the Yield Bearing Bitcoin ETP of Core Chain also employs some other features to facilitate the consumers. For example, it utilizes a timelock method on the *BTC* blockchain.
With this feature, the chain lets investors earn yield along with maintaining complete control over the BTC tokens. In this way, the chain securely locks the tokens of the users for a selected duration. In addition to this, the platform has a mechanism for keeping the tokens time-locked. In the meantime, Core Chain partners with miners as this helps to improve the network security.
Additionally, it taps into the reprocessed hash from transfers. Recently, up to fifty percent of the cumulative hash rate of Bitcoin has entered the respective initiative. The company asserted that it also endeavors to increase the accessibility of this revolutionary strategy. It holds some shares in DeFi Technologies and Valour which have introduced the earliest ETP that lets investors earn yield.
Investors Can Soon Access $200M Early Contribution
Hence, the investors can get yield on the BTC tokens straight via the cutting-edge technology of Core DAO. Valour manages the respective ETP which begins with an early contribution of up to $200M. Soon, the investors pursuing yield-earning benefits and security of the private keys will be able to access that amount.
